It’s safe to conclude that insurance companies want to keep you from comparing rates. Insureds who shop around for better prices will presumably switch companies because there are good odds of finding good coverage at a lower price. A recent survey revealed that people who routinely compared rates saved approximately $3,500 over four years as compared to drivers who never compared other company’s rates.
If finding budget-friendly rates on insurance in Las Vegas is why you’re reading this, then learning a little about how to quote prices and compare coverages can save time, money, and frustration.
If your goal is the lowest price, then the best way to quote cheaper Porsche 911 insurance in Las Vegas is to compare quotes once a year from companies in Nevada. You can shop around by following these guidelines.
- Step 1: Try to learn about individual coverages and the changes you can make to prevent expensive coverage. Many factors that cause rate increases like speeding tickets, careless driving and an unacceptable credit score can be improved by making minor driving habit or lifestyle changes. This article provides instructions to help reduce prices and get discounts that may be overlooked.
- Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or State Farm, while independent agents can provide prices from multiple sources.
- Step 3: Compare the new rates to your current policy and see if there is a cheaper rate in Las Vegas. If you find a better price and switch companies, make sure coverage is continuous and does not lapse.
- Step 4: Provide adequate notice to your current company of your intent to cancel your current policy and submit payment and a completed application for the new policy. Immediately keep the new proof of insurance paperwork in an accessible location in your vehicle.
An essential thing to point out is to use the same physical damage deductibles and liability limits on each quote and to quote with as many different insurance providers as possible. Doing this ensures a level playing field and a complete price analysis.
Buying the cheapest auto insurance in Las Vegas seems hard but is not really that difficult. Nearly every car owner who is looking for a better price on auto insurance most likely will buy a cheaper policy. But Nevada car owners must understand how insurance companies price insurance differently and use it to your advantage.
Insurance coverage analysis
The premium information shown below showcases different coverage costs for Porsche 911 models. Having a good grasp of how premiums are established can help you make smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|911 Carrera 2 2-Dr Coupe||$278||$630||$290||$18||$86||$1,302||$109|
|911 Carrera 4 2-Dr Coupe||$302||$630||$290||$18||$86||$1,326||$111|
|911 Carrera 2 Cabriolet 2-Dr Convertible||$302||$630||$246||$14||$74||$1,266||$106|
|911 Carrera 2 S 2-Dr Coupe||$302||$630||$290||$18||$86||$1,326||$111|
|911 Carrera 4 Cabriolet 2-Dr Convertible||$302||$630||$246||$14||$74||$1,266||$106|
|911 Carrera 4S 2-Dr Coupe||$302||$690||$290||$18||$86||$1,386||$116|
|911 Carrera Targa 2-Dr Coupe||$302||$690||$290||$18||$86||$1,386||$116|
|911 Carrera 2 S 2-Dr Convertible||$302||$690||$246||$14||$74||$1,326||$111|
|911 Carrera 4S Cabriolet 2-Dr Convertible||$324||$630||$246||$14||$74||$1,288||$107|
|911 Carrera Targa S 2-Dr Coupe||$324||$690||$290||$18||$86||$1,408||$117|
|911 GT3 2-Dr Coupe||$324||$748||$290||$18||$86||$1,466||$122|
|911 GT3 RS 2-Dr Coupe||$372||$808||$290||$18||$86||$1,574||$131|
|911 Turbo 2-Dr Coupe||$372||$808||$290||$18||$86||$1,574||$131|
|911 Turbo 2-Dr Convertible||$372||$868||$246||$14||$74||$1,574||$131|
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Prices do not factor in vehicle garaging location which can change price quotes greatly.
Careless Las Vegas drivers pay higher rates
The chart below illustrates how speeding tickets and at-fault fender-benders increase Porsche 911 auto insurance costs for different age groups. The premium estimates are based on a single male driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
Annual premiums for males versus females
The information below illustrates the difference between Porsche 911 car insurance rates for male and female drivers. The price estimates are based on no violations or accidents, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are factored in.
Rate difference between full and liability-only coverage
The chart below shows the difference between Porsche 911 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Nevada. Data assumes no claims or violations, $100 deductibles, drivers are not married, and no discounts are factored in.
When to drop comprehensive and collision
There is no exact formula of when to stop paying for comp and collision coverage, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Porsche 911 claim settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $5,000 after you pay the deductible. If it’s costing in excess of $500 a year to have full coverage, then it might be time to buy liability only.
There are some circumstances where removing full coverage is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.
Auto insurance company ratings
Choosing the highest-rated auto insurance company can be challenging considering how many companies there are in Las Vegas. The company information in the lists below can help you analyze which auto insurers you want to consider when shopping around.
Top 10 Las Vegas Car Insurance Companies Ranked by Customer Satisfaction
- Titan Insurance – 95%
- USAA – 94%
- AAA Insurance – 91%
- Nationwide – 90%
- State Farm – 90%
- The Hartford – 89%
- GEICO – 89%
- 21st Century – 88%
- Liberty Mutual – 88%
- Allstate – 88%
Top 10 Las Vegas Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Insurance coverage considerations
Having a good grasp of your insurance policy can be of help when determining the best coverages and proper limits and deductibles. Insurance terms can be confusing and even agents have difficulty translating policy wording. These are the normal coverages found on most insurance policies.
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as backing into a parked car, hitting a mailbox, rolling your car and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible on your 911 to save money on collision insurance.
Liability coverage protects you from damage or injury you incur to other people or property. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 15/30/10 that translate to $15,000 in coverage for each person’s injuries, a total of $30,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.
Liability coverage protects against claims such as medical expenses, bail bonds, attorney fees, loss of income and structural damage. How much liability should you purchase? That is your choice, but buy as large an amount as possible. Nevada requires minimum liability limits of 15/30/10 but it’s recommended drivers buy better liability coverage.
The next chart demonstrates why minimum state limits may not provide you with enough coverage.
Uninsured/Underinsured Motorist (UM/UIM)
This coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family and also any damage incurred to your Porsche 911.
Due to the fact that many Nevada drivers have only the minimum liability required by law (which is 15/30/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims such as damage from a tornado or hurricane, hail damage, a tree branch falling on your vehicle and damage from getting keyed. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage pay for expenses like surgery, hospital visits, ambulance fees, X-ray expenses and chiropractic care. They are used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
What is YOUR best insurance company?
In this article, we covered a lot of ways to compare Porsche 911 insurance premium rates in Las Vegas. The key concept to understand is the more price quotes you have, the better your chances of lowering your prices. You may even be surprised to find that the lowest premium rates come from a small local company. Regional companies can often provide lower prices in certain areas compared to the large companies like State Farm, GEICO and Nationwide.
More affordable car insurance in Las Vegas is available both online and also from your neighborhood Las Vegas agents, so you should be comparing quotes from both to have the best selection. There are still a few companies who do not provide rate quotes online and usually these smaller companies work with independent insurance agents.
For more information, feel free to visit the following helpful articles:
- Teen Driving Statistics (iihs.org)
- Tread Depth and Tire Safety (State Farm)
- Liability Insurance Coverage (Nationwide)
- What is Covered by GAP Insurance? (Allstate)